customer satisfaction of internet banking of union bank of india

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SUBMITTED TOMr. Manoj Saxena




I take this opportunity to express our deep sense of gratitude to all those who have contributed in making my report a success. Every project is a blend of efforts and learning on the part of students and knowledge and experience of the experts in their respective fields. I would like to express my sincere gratitude and thanks to Mr. Manoj Saxena for his support and guidance during my reportI express my profound sense of gratitude and indebtedness towards all of them for providing every information, assigning various task, guidance, appreciating and correcting us thought our project period.Last but not the least; I would like to express gratitude to all the friends and colleague who helped me throughout the period and gave me proper response and co-operating in our various activities with their patience.

PLACE: LucknowDATE:Shrey Saxena


I Shrey Saxena, hereby declare that the report entitled In depth study of customer satisfaction of internet banking of Union Bank of India is the result of our own work and our indebtness to other work publications, references, if any, have been duly acknowledged.




2Executive summary5

3Scope of the study6

4Objective of the study6

5Introduction of the internet banking6

6What is e-Banking7

7Need for e-Banking8

8Diagram for e-Banking system9

9Types of e-Banking9

10Features of e-Banking10

11How e-Banking can ease your life10

12Research design12

13Data collection13

14Data analysis and interpretation14

15Facts and findings19




PREFACEThe underlying aim of the live project is to do a comparative study of the satisfaction of customer about the E-Banking services provided by Union Bank of India. The primary bank data for the studies were obtained from the questionnaire and field study and the secondary data were collected from banks websites and articles published in news papers. E-banking is defined as the automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels. This project gave me a great learning experience and at the same time it gave enough scope to implement my analytical ability. This report will help to know about the customer satisfaction and e-banking services and its various aspects. This project also helps to customer satisfaction about the e-banking services provided by Union Bank of India

EXECUTIVE SUMMARYMy project aims at study on Customer Perception Towards E-banking With Respect To Union Bank of India. In this research study 75 respondents from the Banks were taken, After analyzing the results of the questionnaire we conclude that even now a days banks are providing innovative services day by day, but still there are a lot of customers who are even not aware about these services, the usage of these services is a different issue, Today Banks are using huge amount of funds to provide differentiate services to their customers from their competitors like by using new software or by providing new innovative services like internet banking, mobile banking, and many others but still they are focusing only to provide the innovative services to the customers not focusing too aware them regarding these services and also there is a need to aware the customers a bout the use and benefits to the services provided by the bank, because its the way to get competitive advantage, as per as we all know that today most of the organizations are focusing on the promotion- element of marketing mix, which is providing financial as well as non financial benefits like Brand image, so these Banks is not focusing over this element, Majority of the respondent in Bank have savings account with banks. The facility that was avail d by most of the people at these Banks was that of ATM/Debit Cards. The most important channel that aware customer most regarding the innovative services is family& friends.SCOPE OF THE STUDY

Area is restricted to only Lucknow because due to the time constraint and not able to visit all the branches in other cities or states. All the classes of the customers were taken into consideration. This study was covered E-Banking service sector. This is a realistic source directly collected from the customers of Bank.


To study about the factors that affects the customer perception towards e-banking of Union Bank of India To know about the current and future prospects of E-Banking to the customers. To find out the major problems faced by the customers while using e-banking services.


Internet banking-Internet banking is changing the banking industry and is having the major effects on banking relationships. Banking is now no longer confined to the branches were one has to approach the branch in person, to withdraw cash or deposit a cheque or request a statement of accounts. In true Internet banking, any inquiry or transaction is processed online without any reference to the branch (anywhere banking) at any time. Providing Internet banking is increasingly becoming a "need to have" than a "nice to have" service. The net banking, thus, now is more of a norm rather than an exception in many developed countries due to the fact that it is the cheapest way of providing banking services.

WHAT IS E-BANKING?E-banking is defined as the automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels. E-banking includes the systems that enable financial institution customers, individuals or businesses, to access accounts, transact business, or obtain information on financial products and services through a public or private network, including the Internet. Customers access e-banking services using an intelligent electronic device, such as a personal computer (PC), personal digital assistant (PDA), automated teller machine (ATM), kiosk, or Touch Tone telephone. While the risks and controls are similar for the various e-banking access channels, this booklet focuses specifically on Internet-based services due to the Internets widely accessible public network. Accordingly, this booklet begins with a discussion of the two primary types of Internet websites: informational and transactionalTraditional banks offer many services to their customers, including accepting customer money deposits, providing various banking services to customers, and making loans to individuals and companies. Compared with traditional channels of offering banking services through physical branches, e-banking uses the Internet to deliver traditional banking services to their customers, such as opening accounts, transferring funds, and electronic bill payment.E-banking can be offered in two main ways. First, an existing bank with physical offices can also establish an online site and offer e-banking services to its customers in addition to the regular channel. For example, Citibank is a leader in e-banking, offering walk-in, face-to-face banking at its branches throughout many parts of the world as well as e-banking services through the World Wide Web. Citibank customers can access their bank accounts through the Internet, and in addition to the core e-banking services such as account balance inquiry, funds transfer, and electronic bill payment, Citibank also provides premium services including financial calculators, online stock quotes, brokerage services, and insurance.E-banking from banks like Citibank complements those banks' physical presence. Generally, e-banking is provided without extra cost to customers. Customers are attracted by the convenience of e-banking through the Internet, and in turn, banks can operate more efficiently when customers perform transactions by themselves rather than going to a branch and dealing with a branch representative.One of the main concerns of e-banking is security. Without great confidence in security, customers are unwilling to use a public network, such as the Internet, to view their financial information online and conduct financial transactions. Some of the security threats include invasion of individuals' privacy and theft of confidential information. Banks with e-banking service offer several methods to ensure a high level of security: (1) Identification and authentication, (2) Encryption, and (3) Firewalls. First, the identification of an online bank takes the form of a known Uniform Resource Locator (URL) or Internet address, while a customer is generally identified by his or her login ID and password to ensure only authenticated customers can access their accounts. Second, messages between customers and online banks are all encrypted so that a hacker cannot view the message even if the message is intercepted over the Internet. The particular encryption standard adopted by most browsers is called Secure Socket Layer (SSL). It is built in the web browser program and users do not have to take any extra steps to set up the program. Third, banks have built firewalls, which are software or hardware barriers between the corporate network and the exter


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